E 57th St / Madison Ave median real estate price is $4,290,557, which is more expensive than 99.7% of the neighborhoods in New York and 99.9% of the neighborhoods in the U.S.
The average rental price in E 57th St / Madison Ave is currently $6,592, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 99.4% of the neighborhoods in New York.
E 57th St / Madison Ave is a densely urban neighborhood (based on population density) located in New York, New York.
E 57th St / Madison Ave real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes. Most of the residential real estate is owner occupied. Many of the residences in the E 57th St / Madison Ave neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.
Vacant apartments or homes are a major fact of life in E 57th St / Madison Ave. The current real estate vacancy rate here is 59.1%. This is higher than the rate of vacancies in 99.2% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (48.5%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.
Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in New York, the E 57th St / Madison Ave neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.
If you're a regular supporter of the arts and enjoy outings to the theatre, weekend boutique-ing, or even a finely aged wine with dinner, than you're in good company with the people of the E 57th St / Madison Ave neighborhood. This neighborhood is uniquely immersed with more "urban sophisticates" than 100.0% of neighborhoods across the country. The people here truly stand out as a class among their own. They are an exclusive community characterized by refined tastes, cultural inclinations, and the means to live well. Urban sophisticates live a big city lifestyle, whether or not they live in or near a big city. They are educated executives or managers by week, and serial patrons of the arts by weekend. If this lifestyle pertains to you, than you'll certainly feel right at home in the E 57th St / Madison Ave neighborhood. In addition to being an excellent choice for urban sophisticates, this neighborhood is also a very good choice for highly educated executives.
In addition, the rate of college educated adults in the E 57th St / Madison Ave neighborhood is a unique characteristic of the neighborhood. 90.4% of adults here have received at least a 4-year bachelor's degree, compared to the average neighborhood in America, which has 33.7% of the adults with a bachelor's degree. The rate here is higher than NeighborhoodScout found in 99.7% of all U.S. neighborhoods.
Also, wealth makes most things in life easier, and a few things harder. If you are wealthy and enjoy keeping up with the Jones', this neighborhood will interest you. In fact, according to NeighborhoodScout's research, the E 57th St / Madison Ave neighborhood is wealthier than 99.4% of the neighborhoods in the United States. Residents here are truly in a unique situation even when compared to other Americans, based on the sheer amount of wealth concentrated here. Even in times of economic downturn, residents of this neighborhood, as a group, suffered less and recovered more quickly. This is indeed a stand-out characteristic of this neighborhood.
More people in E 57th St / Madison Ave choose to walk to work each day (45.8%) than almost any neighborhood in America. If you are attracted to the idea of being able to walk to work, this neighborhood could be a good choice.
The E 57th St / Madison Ave neighborhood has a higher proportion of its residents employed as executives, managers and professionals than 99.6% of the neighborhoods in America. In fact, 83.5% of the employed people here make a living as an executive, a manager, or other professional. With such a high concentration, this truly shapes the character of this neighborhood, and to a large degree defines what this neighborhood is about.
Vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 59.1% of the residential real estate vacant, the E 57th St / Madison Ave neighborhood claims the distinction of having a higher vacancy rate than 99.2% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
In addition, the real estate in the E 57th St / Madison Ave neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 95.0% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 99.0% of American neighborhoods.
Furthermore, being a walkable neighborhood can help increase property values for the simple reason that people enjoy it and value it. To put it plainly, despite our love affair with the automobile, American's enjoy taking to the streets, sidewalks, paths, and courtyards of a place to get a coffee, relax, and take in the sights and sounds. And, according to NeighborhoodScout's exclusive and first quantitative walkable score index, the E 57th St / Madison Ave neighborhood is one of the most walkable neighborhoods in America.
We Americans love our cars. Not only are they a necessity for most Americans due to the shape of our neighborhoods and the distances between where we live, work, shop, and go to school, but we also fancy them. As a result, most households in America have one, two, or three cars. But NeighborhoodScout's exclusive analysis shows that the E 57th St / Madison Ave neighborhood has a highly unusual pattern of car ownership. 58.1% of the households in this neighborhood don't own a car at all. This is more carless households than NeighborhoodScout found in 99.1% of U.S. neighborhoods.
Did you know that the E 57th St / Madison Ave neighborhood has more Russian and Romanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 13.6% of this neighborhood's residents have Russian ancestry and 3.5% have Romanian ancestry.
E 57th St / Madison Ave is also pretty special linguistically. Significantly, 3.7% of its residents five years old and above primarily speak Japanese at home. While this may seem like a small percentage, it is higher than 99.5% of the neighborhoods in America.
How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.
The neighbors in the E 57th St / Madison Ave neighborhood in New York are wealthy, making it among the 15% highest income neighborhoods in America. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 99.4% of the neighborhoods in America. With 12.5% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 54.1% of U.S. neighborhoods.
The old saying "you are what you eat" is true. But it is also true that you are what you do for a living. The types of occupations your neighbors have shape their character, and together as a group, their collective occupations shape the culture of a place.
In the E 57th St / Madison Ave neighborhood, 83.5% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 9.5% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (7.0%), and 6.3% in government jobs, whether they are in local, state, or federal positions.
The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the E 57th St / Madison Ave neighborhood is English, spoken by 74.5% of households. Other important languages spoken here include Spanish, Polish, Korean and Japanese.
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.
In the E 57th St / Madison Ave neighborhood in New York, NY, residents most commonly identify their ethnicity or ancestry as Russian (13.6%). There are also a number of people of Italian ancestry (13.4%), and residents who report Asian roots (12.6%), and some of the residents are also of English ancestry (11.2%), along with some Hungarian ancestry residents (5.1%), among others. In addition, 30.1% of the residents of this neighborhood were born in another country.
How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in E 57th St / Madison Ave neighborhood spend under 15 minutes commuting one-way to work (56.5% of working residents), one of the shortest commutes across America.
Here most residents (45.8%) hop out the door and walk to work to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (19.0%) and 7.7% of residents also take the train for their daily commute. This is a special neighborhood for the number of people who walk to work. Combining exercise, low cost, and reduced pollution, plus the chance to see your neighbors, walking to work is fairly uncommon in America but likely to increase as people try to reduce their dependence on automobiles, and this neighborhood offers that opportunity today.